Cable Update (GBPUSD)

Yes 11298+ weekly open

But i'll play up and down meanwhile because it won't be in a straight line for sure (stupid gap up still alive)

And this week mid term + CPI....will be very volatile for the USD

Today..
1.1460/80 - 1.1645..

Buy limit prepared...

Hello Tokyo trading friends

I had another very good sleep and I really feel that I have this Covid thing beaten now. Is not gone yet, but I am definitely feeling much better

I will have a look at the market for a while and then I will have an early lunch outside in the garden.

I hope you all are well and that lots of pips come from the market to you all

Hello KashifHfx

Thank you for the 'get well' wishes

Let me start to answer your question by saying that I explained my strategy in a earlier post, so if you quickly read through my posts, you will have a better understanding of what I do

For this particular trade, let us look briefly at the H1 chart. I use the M5, M15 and M30 charts to find an entry, but the H1 chart does show the immediate trend. We can see from the H1 chart that last Friday (Nov 4th) the upswing began and the market closed with a 250 pip (more or less) climb up. On Monday, yesterday, the market opened with a large gap down. These gaps nearly always get filled, sometimes straight away, sometimes hours or even days later, but they do get filled. This is a valuable point to remember



Where I have marked 1, is my first attempt to Buy GU, but the trade failed and I closed with a small loss. Number 2 is the trade we are discussing here, which was a nice trade for me.

Let us now look at that same chart, but in M15


You see how the price kept bouncing along on top of the round number 1.13000? It could not establish itself under the line. So now we know that we have a strong move up on Friday, and on Monday, price cannot break out lower. Therefore to Buy is a good probability trade. Just have to find an entry. For this I go down to M5 chart and look for the best setup. I thought I found it with the first attempt, but price did not want to go up and so I exit with a small loss. When Frankfurt market opened, price tried to breakout lower but could not. It is well known that London open will often do the opposite of what Frankfurt wants, so I was ready to see if London open would push up. I checked my M5 chart and even a quick look at M1, and I decided that the price was going to attempt to push up and close that gap that we know is still open. So everything suggests that this is a great chance to place the trade for very small risk.

As we know, the trade worked and the gap closed, which was my target.

I hope this explanation is helpful to you

Indiara

GU looking 1.1560

Might print HH today!

Those who trade 4 hr candle will not loose. I repeat.
To me today is likely bearish candle.
I am still away from home so not trading today also.

my view as well... if yesterday's high doesn't get broken (on daily candle i think we already have the high of the day)... maybe its all bears from here......

The PA is likely to be choppy, may be 60 to 70 pips range.
LO should break down.
IMO

30M

This made my day (love)

Gbpusd long tp 1.15250. Short at tp

Gbpjpy short tp 168.200

yesterday the up was due to the market price in a split congressional election,
Today the actual it may or may not be a split one.
I'm short +28pips running, Sl -10pips

Eurgbp long tp 0.87250

Was doing some trend analysis, which i'm not good at, but any trend trader using SMC can please confirm if CHoCH breakout is it considered as a trend reversal. I only use it intraday (the BOS, SMS and CHoCh- 4hr timeframe).
Note: It is not a prediction, cause Macro Fundamental there is no reason to Buy GU for the moment since Bailey sounds Dovish while Powell more HAwkish than expected for DEC BOE MPC, and FOMC respectively.

Nice... its going down bro

There are many imbalances that it needs to fill below

I am not still short yet.... Just waiting for my setup to give conformation about short...It will be lil late but its ok

That projection might be need 1 year to fill in...